When a U.S.tourist in Japan goes to a bank to convert her dollars into Japanese yen,the exchange rate is the

Question

Quizplus · Accepted Answer

The spot exchange rate is the rate at which foreign exchange can be exchanged immediately or "on the spot" and is the exchange rate a tourist would encounter when converting their dollars into yen at a bank. A forward exchange rate is a rate quoted for a transaction that will occur in the future, a regulated exchange rate is a rate set by government intervention, a sanctioned exchange rate is a rate affected by economic sanctions, and the Japanese central bank rate refers to the interest rate set by the Bank of Japan, which is not directly related to the exchange rate for tourists.

When a USTourist in Japan Goes to a Bank to Convert Her